Ibeneche Takes Hold of Eroton

He’s the third former Shell MD to work for an indigenous company operating a former Shell Nigeria asset.

Four years after he retired as CEO of the Nigeria Liquefied Natural Gas Limited (NLNG), Chima Ibeneche has taken charge at the helm of Eroton, the Nigerian E&P independent.

In this position he oversees the re-development of the Oil Mining Lease (OML) 18, an oil and gas producer purchased from Shell/TOTAL and ENI in late 2014 and approved by the Nigerian Minister of Petroleum in March 2015. Eroton is a special purpose vehicle consisting of Nigerian companies Midwestern Oil and Gas Limited and Suntrust Oil and Gas Limited as well as the Canadian junior Mart Resources Limited.

OML 18 averaged 21,000BOPD from six fields in 2012. Liquid export from the acreage is evacuated through the Nembe Creek Trunk Line to the Bonny Crude Oil Terminal. Eroton holds 45% operatorship of the asset, with the state hydrocarbon company NPDC having the remaining 55%. OML 18 is the second most prospective of the four acreages divested of by Shell &Co in 2014. Its 1.5Billion Barrels of Oil Equivalent (BBOE) (P1+P2 remaining reserves) are found in eight fields, the largest being Cawthorne Channel, Buguma Creek and Alakiri, according to Shell estimates.

The hydrocarbon fields in the acreage could deliver as much as 80,000BOPD and 250MMscf/d, with focused, aggressive work programme, in the opinion of the Anglo Dutch major.

Ibeneche was Managing Director of Shell Nigeria Exploration and Production Company (SNEPCO), essentially the exploration arm of Shell Nigeria, where the commissioning of Bonga, the country’s flagship deepwater oilfield, came under his watch in November 2005. He was the first Nigerian CEO of NLNG (Shell equity: 26%), the corporation’s largest LNG operation worldwide.

With this appointment, Chima Ibeneche becomes the third former CEO of a Shell Company in Nigeria to be involved in running a new Nigerian company which has just purchased a Shell operated asset from Shell. In this club, he joins Chike Onyejekwe, (his successor as MD at SNEPCO) who is at the helm of AITEO, operator of OML 29 and Mutiu Sumonu, who is an executive consultant at Newcross E&P, operator of OML 24.
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greetings and may tge glory of God be with you.
sir pls the accees control personal at cawthorne channel two are communities employee
and as such deserve to be employ, some top workers of the company are trying to divert them to contract surveillance, our king has wrote to the company management but tgey refuse to comply so we the youth of tge three major communities of kalabari, buguma bakana and abonnema are now calling for an understanding.

FOR KALABARI NATIONAL UNITY :KALABARI POWER (KAP): SAVE THE KALABARI KINGDOM FROM ANOTHER CRISSIS: By virture of the power bestowed on me by the Amayanabo of Kalabari Kingdon, His Majesty King Prof. TJT Princewill, CFR,JP, as Buguma community liason officer. I have resisted the persistent urge to write to you on the above subject matter, it is no gainsaying that ELEM BEKINKIRI, MBIAKAFIAMA AND BREGEDE belongs to Kalabari kingdom thus any matter concerning the three communities should be forwarded to the legitimate authority of the land viz Elem Bekinkiri(AMAYANABO of KALABARI), Mbiakafiama founded by Late Elder Benjamin Owuso contact Chief Signful Owuso and Bregede contact Edi Braide family. Kalabari Power is advocating Peace and Unity in the Kalabari Kingdom but not without your co-operation and that of other oil companies operating in the Kalabari kingdom. However your prompt comliance with this and more of our positive protest letter will reduce communal crissis in the Kalabari kingdom. Thanks for your anticipated reply.

Congratulations to EROTON Exploration and Production Company Ltd. You Guys are very fortunate to have Mr. Ibeneche as your CEO. He is a seasoned Adminitrator that is able to take any Company he rules to greater heights. In a very short while, EROTON will be a Company to reckon with, especially in the area of developing their host Communities.

Congratulations, Oga Ibeneche, may God continue to showers His blessings on you.

WITH The AUTHORITY given to me Iam using this medium to let you know that in ALAKIRI Your Company EROTON E&P has come to set or continue the crisis which SHELL SPDC where doing before the sales of their facilities, EROON E & P Engaged our community workers which they refused to give them appointment letters, they refused to pay them their which they worked for,no body to dialogue with them as workers or Human beings,pls, Sir try and make peace to reign between your company and the community workers.THIS OFIOMINA-AMA (ALAKIRI is known as peaceful community,ley it to continue and be like that. Christian Harry

We are all in a mess ,SIR WE The community Inhabitants workers is letting you know that Since May 2015 EROTON company took over from SPDC they have not paid us, and they don’t want to compromise with the community,WE The community workers Says (WE don’t want Willie DICK to be paying us and we don’t want him to be a contractor to the community workers) Sir please use your office,The people here are trying to cause crisis in this ALAKIRI, WILLIE Dick is not needed, and they using soldiers to terrorize us the fss in ALAKIRI

Congratulations Mr Ibeneche.Oml 18 is one of lucrative business area in the Nigeria oil and gas.ever since Eronton took over from Spdc.you and the Board of directors have not find it worthy to come and see the Amanyanabo of Kalabari Kingdom.you people ask the people to payed him courtesy visit and he proposed some major items for Eroton to do for the kingdom.and uptill now nothing.Eroton is busy drilling peacefully it’s because His Majesty King Prof.T.J.T.Princewill,Jp,Cfr,Amachree XI,Amanyanabo of Kalabari Kingdom.wants it.I will advise you as the MD of Eroton to Come and see him.Engr.Osepiribo I.Jackreece,Spokesman to The Amanyanabo of Kalabari Kingdom.08027676266.